Saudi tech start-up Salasa raises $8.6m amid growth push

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Salasa, a good technology fulfilment company found in Saudi Arabia that handles orders for e-commerce businesses, raised $8.6 million in a string A funding round featuring Saudi CAPITAL RAISING Enterprise and 500 Startups.

The fundraising into Salasa was led by Jeddah-based AlSulaiman Group, which already has investments in several sectors including retail, logistics, hospitality, financial services and e-commerce.

The investment can help the business to grow its network of partners and expand its services across Saudi Arabia and the wider Gulf region.

“We are enthusiastic to have partnered with leading investors in your community and look forward to their valuable assistance and support in backing our growth,” Abdulmajeed Alyemni, Salasa’s co-founder and leader, said.

Founded in 2016, Salasa offers a variety of services meant for e-commerce businesses that includes order fulfilment companies and storage of items in its warehouse. In addition, it offers resources to greatly help smaller e-commerce companies to develop services and enter new markets.

Salasa has shipped a lot more than 10 million products to day on behalf of a lot more than 300 native and international customers across 15 industries.

"We look proud to lead this investment rounded in a start-up that delivers offerings with a business design that promises rapid growth and development … especially in these difficult circumstances where the world is certainly going through Covid-19,” Saud AlSulaiman, leader of AlSulaiman Group, stated.

“We have full rely upon [the] Salasa workforce and its own ability to move forward with the expansion and growth plan on the kingdom and the whole region," he added.

The e-commerce marketplace in the centre East and North Africa region is booming as a result of popularity of smartphones and large rates of internet penetration.

E-commerce sales are collection to triple to $28.5 billion in 2022, from $8.3bn in 2017, according to analyze from Bain & Enterprise and Google.

"The marketplace outlook indicates significant growth in this sector, and we happen to be confident, as experts in this discipline, we are able to meet client demands more rapidly, with better delivery experience, at affordable rates,” Hasan Alhazmi, co-founder and chief operating officer of Salasa, said.

“We are poised for expansion and we happen to be aggressively investing in our proprietary technology … to attain superior operational excellence and utilise predictive analytics and insights to greatly help our customers to make strategic decisions,” he added.
Source: https://www.thenationalnews.com

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